What Will Filecoin Be Worth In 10 Years?

Last Updated January 14th 2022

6 Min Read

Analysts and forecasters have various views on Filecoin's price in ten years. Some say that the price of Filecoin (FIL) may increase to $1000, While others are much more hopeful predicting that Filecoin could cross the $750 level in 10 years.

Other than Bitcoin, Namecoin and Litecoin, no other cryptocurrency has been around for more than 10 years. The meteoric rise that we saw in 2017 was just something that couldn't be comprehended at first. Even though the bear market took over at the start of 2022, there are still a lot of cryptocurrency enthusiasts who believe in their investments and still think that they will get to new highs.

For Filecoin, it's been a very different story. The coin was created back in 2017 and had an ICO that raised $257 million - one of the most successful ICOs at that time. However, the demand has always been there for the technology that Filecoin offers.

The coin entered the market as an ERC20 token, but now that it has been out for a few years, they have finally released their own mainnet and become an independent cryptocurrency. The price went up sharply during this time and is still somewhat stable today.

If you think of where the coin will be in the next 10 years, it's hard to say. It depends on a lot of factors that are basically out of our control at this point.

Filecoin is fairly popular and among the top 50 cryptocurrencies - people have high hopes for its performance and are willing to bet on it.

In this guide, we will take a closer look at the coin, its performance so far and what the future might have in store.

Filecoin Price for the Next 10 Years

It is hard enough to predict the price of cryptocurrencies for the next few months or even weeks. It is even harder when we are looking at 10 years ahead. In fact, we can say it is realistically impossible.

For this reason, we won't waste time looking at price predictions that will likely never come true. Instead, we are going to quickly cover a few factors that will inform the price movement of Filecoin in the next 10 years.

So, here we go.

1. Demand for Decentralized Storage in the Future

This is one of the biggest factors that will affect the price of FIL in the next 10 years. We all know the benefits of decentralization and why it is better than having everything stored on one single server. Of course, there are some issues with it still - like security threats and servers going down for whatever reason - but things are getting much better.

Online storage solutions are good at what they do, but they leave a lot of power in the hands of just one company. The idea with Filecoin is to decentralize that storage and give power back to everyone who uses it - for a fee, of course. If this demand keeps growing, the price will naturally go up in the long run.

2. Competition

There are several competitors in the market right now, so this could be either a good or bad thing. We hope that Filecoin will be able to stand out against any competition because it is one of the newer cryptocurrencies and could really use some attention.

Competition like Siacoin, Storj, Maidsafe (and its Substratum altcoin) are already here. At the same time, there are new products coming up every now and then that could be considered as competition too.

Again, this is both a good and bad thing. It is good because it will keep everyone on their toes and improve the services they offer to attract more customers - but at the same time, it might be tough to do that for smaller players.

3. Developer Community

Filecoin has a lot of loyal users and investors - which is expected for any cryptocurrency. However, it is hard to say if they will continue building services around this coin or choose something else instead. As mentioned earlier, the idea of decentralizing storage is certainly something that will be attractive for many people, but it also has its flaws.

This is one of the reasons why Filecoin needs a really strong developer community to take care of all these projects that rely on the blockchain. If the developers don't feel like this coin is offering them enough incentives in return, they will likely move elsewhere - and take their projects with them.

3. Government Regulations

This is one of the main reasons why we don't recommend putting all your savings into cryptocurrencies. These coins and tokens aren't backed by anything, and their price can take a nosedive any moment - and you don't want to be caught off-guard if that happens.

There are many things that governments could decide to do in the future when it comes to cryptocurrency regulations. Some of them might have a positive impact on these coins and tokens, while others can wreak havoc with them in a matter of minutes.

If you plan on investing in Filecoin, don't store any more money in this coin than you can't afford to lose. It is certainly a risk worth taking for most people, but it can also lead to significant losses if something bad happens.

5. Market Sentiment

Market sentiment is always changing. It doesn't even take a lot of bad news to change that for most cryptocurrencies. The same goes for Filecoin, which is why you need to keep track of what's happening in the market at all times - especially when investing big amounts of money.

It doesn't take much to change the market sentiment and make these coins drop a lot of value, so you need to be prepared for that.

We're not saying that something like this will happen with FIL, but it is certainly a possibility that you have to look out for

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Will Filecoin Ever Reach $1,000?

It is hard to say for sure if Filecoin coin will ever reach $1,000, but what we can say is that it has potential. If the developers come up with interesting solutions to improve the blockchain and attract more users at the same time, this could be one of those coins that grow significantly in value over time.

Check Out: Could Filecoin Be A Millionaire-Maker Coin?

Should I Hold Filecoin for 10 Years?

This is entirely up to you, but we're still showing the potential risks you need to consider. There are many other coins on the market that seem more interesting to us when compared with Filecoin - at least for now, while it's still hard for this coin to stand out from the crowd.

If other coins offer customers something that Filecoin doesn't, it will be tough for them to compete in the long run. That's why you need to look at everything before making a final decision - and don't forget that this coin (and every other cryptocurrency) is extremely unpredictable.

Conclusion

So, should you hold Filecoin for 10 years? The answer is - it depends. This coin has enormous potential and can grow significantly in value if everything goes well for the network - but it also has risks that you need to consider before making this type of decision.

While we certainly think this could be an interesting investment, don't invest more than you can afford to lose and make sure you keep an eye on market sentiment at all times.